As our source, we have taken a look at the data on the Economic Statistics database here at EconomyWatch.com. The data points come from the IMF’s tracker of GDP Growth in constant prices in the national currency (not converted to US dollars).

For 2010, we noted that none of the top growth countries were advanced economies; only one was G20.

Many people assume that China is the fastest growing country in the world, but that is not the case - it is the fastest growing larget economy, and as we will see that is a different thing.

We also took a look at the key trends that are driving the growth figures.

While trends are following through as projected, you may be surprised at who is now leading the pack in terms of economic growth - not a country that is normally thought of in those terms.

Once again, developed countries do not feature in the Top 12. Almost half of the top 12 come from Africa. Ghana has swept from 4.5% last year, to an astonishing 20.146% for 2011.

One third of the Top 12 are from the Far East; two from the Middle East and one from Central Asia.

In 2010 there was only one G20 nation in the Top 12. This time India also makes the grade. This is the beginning of a larger trend.

With China’s aging population and India’s young demographic India’s growth rate will overtake China’s within 10 years, as it will start to enjoy a “demographic dividend.” However India will not be without its own challenges as our Chief Political Economist David Caploe points out here in his article India: One Child Policy?

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